History and Launch
$TRUMP was launched on January 17, 2025, on the Solana blockchain, three days before Trump's inauguration. Out of one billion tokens, 800 million remained under the control of the Trump-affiliated company CIC Digital LLC, while 200 million were placed on the market. The coin is positioned as a symbol of support for Trump and has no utility value.
Rise and Fall of Value
After the launch, the price of $TRUMP soared, reaching a peak of $75.35 on the eve of the inauguration, giving the coin a market capitalization of $14.5 billion. However, subsequently, the value sharply declined, and as of now, it is trading around $13, which represents a drop of over 80% from its peak.
Promotional Activities and Dinner with the President
In April, it was announced that the 220 largest holders of $TRUMP would receive an invitation to a private dinner with President Trump on May 22 at his golf club in Virginia. This announcement triggered a short-term price increase of 25%, however, after the event, some investors began to sell their assets, leading to a decline in value once again.
Ethical and Legal Issues
The launch of $TRUMP faced criticism from politicians and ethics experts. Senators Chris Murphy and Cynthia Lummis expressed concern about potential foreign influence, considering that a significant portion of investors are anonymous and may be linked to foreign entities. Additionally, the Chinese company GD Culture Group, which has no revenue, invested up to $300 million in $TRUMP, raising further concerns about transparency and national security.
Current Situation and Prospects
Despite the recent surge, $TRUMP remains a highly volatile asset with limited liquidity. Over 94% of the tokens are concentrated in 40 wallets, increasing the risks of manipulation and sharp price fluctuations. The upcoming dinner with the president may have a short-term impact on the value, but the long-term prospects remain uncertain due to regulatory risks and the limited utility of the token.